Public Service Enterprise Group (NYSE:PEG) Receives Buy Rating from Guggenheim

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a report released on Wednesday,Benzinga reports.

PEG has been the subject of a number of other research reports. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Evercore ISI increased their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America boosted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.08.

Public Service Enterprise Group Stock Down 0.9 %

Shares of PEG traded down $0.76 during trading hours on Wednesday, hitting $85.62. 590,504 shares of the company were exchanged, compared to its average volume of 2,742,321. The firm’s 50 day moving average is $89.54 and its 200-day moving average is $82.21. Public Service Enterprise Group has a 52 week low of $56.85 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $42.66 billion, a PE ratio of 21.08, a PEG ratio of 3.30 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. During the same period in the prior year, the firm earned $0.85 EPS. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,798 shares of company stock valued at $1,595,921. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group in the second quarter worth $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth about $48,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $58,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.